Economic Development

In 2000, Dakota Valley Electric Cooperative was the recipient of a $120,000 USDA Rural Economic Development Grant. That grant established Dakota Valley Electric’s Economic Development Fund. Since then the Cooperative has added additional grants to the fund.  The Fund now totals over $1,600,000.

The fund provides 1% interest loans to new businesses or business expansions. Loans made from DVEC’s Economic Development Fund are for a minimum of $10,000 and a maximum of what is available in the fund at the time the application is received. Terms for the loans vary, depending upon the use of the loan.

For more information on any of the Economic Development Loan Programs, please contact Michelle Berry at 1-800-342-4671 or 701-493-5015 you can e-mail her at michelleb@dakotavalley.com

DVEC is able to offer funding for new businesses and business expansion projects through USDA's Rural Economic Development Loan and Grant Program. Click here for more program information.

Loans are available to qualifying businesses at zero-percent interest for 10 years.

To date, 22 projects have received funding through USDA's Rural Economic Development Loan and Grant Program. Dakota Valley Electric projects that have qualifed for funding are:

• Super 8 Motel - Edgeley

• Dakota Valley Mills

• Minn Dak Sugar- Wahpeton

• Tri State Fertilizer Plant in Fairmount

• Five Star Dairy - Hankinson

• Hutchinson Wilrich - Wahpeton

• Good Oil Company - LaMoure

• LaMoure Feed & Seed - LaMoure

• Cenex - Ellendale

• LaMoure and Ellendale Equipment

• Green Implement - Hankinson

• Tri-State Fertilizer Terminal, LLC - Fairmont

• New Fire Hall - Edgeley Fire Department

• Oakes Ambulance Service

• City of Oakes water and sewer expansion

• Dwight Fire Department upgrades

• Dialysis Treatment Center building

• Giant Snacks, Inc. plant expansion

• City of LaMoure - New Fire Hall and Ambulance Center

• New Hardware and Grocery Store in LaMoure

• New Building Farmers Union Oil of Southern Valley

• Minn-Dak Farmers Cooperative Expansion

2022 Grant Program

The Rural Development Finance Corporation (RDFC) is pleased to announce it has approved a 2022 grant allotment of $2,000 to Dakota Valley Electric Cooperative to be used to support community owned entities, non-profits and community-based projects.

Guidelines

Eligible projects:  community owned businesses(cafe, grocery store, motel, other); community facilities (such as ambulances services, fire districts, recreation, hospital/clinic, community center, etc.); or community-based projects (such as school/youth projects, other) that  benefit rural areas. Please note that RDFC does not provide funds for medical fundraisers or general operating costs.

Matching funds:  $4 dollars of other funds to every $1 of RDFC funds.  The Dakota Valley Electric Cooperative will verify the matching fund requirement.

Maximum/minimum grant amounts:  The minimum grant amount is $500: the maximum is $2,000.  The limit is $2,000 to Dakota Valley Electric Cooperative for 2022.

Deadline: August 31, 2022

Process:  Down load application here.  Fill out application and mail to Dakota Valley Electric Cooperative, 7296 Highway 281, Edgeley, ND 58433 prior to August 31, 2022.

Rural Development Finance Corporation is a North Dakota nonprofit finance and development corporation whose member-owners are all the North Dakota Rural Electric Cooperatives, nine of the North Dakota Rural Telecommunication Cooperatives and the North Dakota Association of Rural Electric Cooperatives.

Funding for these programs comes from fee income generated by Dakotas America LLC, a certified development entity providing New Market Tax Credits in the Dakotas.  

For program loan information click here.